Tim Hortons owner eyes U.S. expansion despite uncertainty around Trump policies
TORONTO — The parent company of Tim Hortons and Burger King sees fertile ground for rapid expansion for both chains in the United States, regardless of uncertainty around what policies U.S. President Donald Trump will implement during his tenure.
The United States is “one of the biggest opportunities” for expanding the coffee and burger chains, said Daniel Schwartz, CEO of Restaurant Brands International Inc. (TSX:QSR), in an interview.
Tim Hortons had 683 U.S. locations as of Dec. 31, 2016, according to financial documents. Burger King’s U.S. operations had more than 7,000 restaurants as of Dec. 31, 2015, according to the most recent filing that separates the U.S. from other markets.
Schwartz said Tim Hortons “should be many, many times our current size” in the United States but added there’s no target number.
He said that the plan has not changed since Trump’s election in November or several controversial executive orders that the president has signed since moving into the White House in January.